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More than 50% of software revenue will be generated from subscription model in coming years and an estimated 75% of organizations selling directly to consumers will offer subscription services by 2023. With more and more businesses adopting this model there is a need and necessity for a robust subscription billing platform. And with this thought in mind, Inogic introduced its very first business management app for Dynamics 365 CRM users – Subscription and Recurring Billing Management.
So, what is so exciting about this latest business management app from Inogic? Let’s find out….
Monitor – Measure – Improve
A famous mathematician had once said, ”If you cannot measure it, you cannot improve it.” For all small, medium and large enterprises, subscription model has proven to be quite appealing since it brings recurring revenue. And this consistent revenue must be monitored and measured well if you want to improve it. MRR, ARR, ARPU, Churn Rate, CLTV, etc. are some of the important SAAS metrics that helps to measure the business performance and provides clear insight on business health. Subscription and Recurring Billing Management with its comprehensive dashboard reporting, not only helps to identify the pains areas in business but enables you to adapt to consumer buying behaviours and react quickly to the ever-changing competitive landscape.
Seamless subscription management
A smart back-end subscription billing management platform is necessary for smooth functioning and growth of business. With subscription and recurring billing management, all your back-end processes such as managing subscription cycles, product pricing, subscription renewals, payment reminders, calculating partner margin and delayed charges will become automated. The time and effort invested in these manual activities can be better utilized in forming stronger customer base and expanding business.
Simplify and Organize Recurring Billing Process
The subscription model brings recurring revenue and also the ever-tedious burden of recurring billing processes like generating Invoices/Orders, calculations, proration, discounts, credits, etc. If not organized and automated, with the growth of business, this increasing tide of bills/invoices/orders can lead to billing bottlenecks on a massive scale. And this is why Subscription and Recurring Billing Management is necessary as it will simplify and organize these recurring processes through automation.
Automate Tax Calculations
Calculating taxes for different products with different regional tax rates is quite taxing. By automating these calculations, you can eliminate manual errors, maintain accuracy and improve productivity which is possible with this app. Apart from this, there is also provision to integrate with AvaTax by Avalara for calculating taxes based on geography or region which will undoubtedly make these recurring tax calculations error free and stress free.
The key to a successful subscription business is a combination of right strategy, strong customer relationships and a smart back-end tool that will take over your daily mundane tasks and smoothen your daily workload.
A feature-rich app with Microsoft Preferred App badge in its bag, Subscription and Recurring Billing Management is just what you need for managing subscriptions within Dynamics 365 CRM.
For personal demo or more information kindly mail us at firstname.lastname@example.org
Until then – Happy Subscribing!